insiderdelta
CoverageForm 410-K10-Q8-K13D13G13F

CDP · Copt Defense Properties - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · CDP

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AnnualQuarterly

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$763.92M$753.27M$684.98M$739.03M$664.45M$609.37M
Cost of Revenue----$104.05M$67.61M
Gross Profit----$560.39M$541.75M
R&D------
SG&A$47.84M$47.04M$42.77M$35.80M$36.13M$33.00M
Total Operating Expenses$533.55M$539.94M$749.32M$557.61M$495.75M$448.65M
D&A$163.70M$156.01M$151.40M$143.59M$150.64M$140.03M
Operating Income$157.68M$143.83M($73.50M)$147.95M$77.27M$101.41M
Interest Expense$86.66M$82.15M$71.14M$61.17M$65.40M$67.94M
Income Tax$947.0K$288.0K$588.0K$447.0K$145.0K$353.0K
Net Income$138.42M$143.94M($74.35M)$178.82M$81.58M$97.37M
EPS - Basic$1.35$1.23($0.67)$1.54$0.68$0.87
EPS - Diluted$1.34$1.23($0.67)$1.53$0.68$0.87

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$274.99M$38.28M$167.82M$12.34M$13.26M$18.37M
Accounts Receivable------
Inventory------
Accounts Payable------
Current Assets------
Total Assets$4.70B$4.25B$4.25B$4.26B$4.26B$4.08B
Current Liabilities------
Long-term Debt$2.77B$2.39B$2.42B$2.23B$2.27B$2.09B
Total Liabilities$3.11B$2.69B$2.70B$2.51B$2.58B$2.36B
Stockholders' Equity$1.51B$1.49B$1.48B$1.68B$1.62B$1.66B
Retained Earnings------

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow$309.93M$330.95M$276.27M$265.82M$249.15M$238.42M
Investing Cash Flow($289.74M)($291.01M)($169.62M)($83.46M)($202.97M)($325.79M)
Financing Cash Flow$216.54M($169.67M)$46.26M($183.18M)($50.90M)$91.27M
CapEx------
Free Cash Flow------

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin----84.3%88.9%
Operating margin20.6%19.1%-10.7%20.0%11.6%16.6%
EBITDA margin42.1%39.8%11.4%39.4%34.3%39.6%
Net margin18.1%19.1%-10.9%24.2%12.3%16.0%
Free cash flow margin------
FCF / Net income------
R&D / Revenue------
SG&A / Revenue6.3%6.2%6.2%4.8%5.4%5.4%
Effective tax rate0.7%0.2%-0.2%0.2%0.4%
Return on assets2.9%3.4%-1.8%4.2%1.9%2.4%
Return on equity9.1%9.6%-5.0%10.6%5.0%5.9%
Return on invested capital3.7%3.7%-1.5%3.8%2.0%2.7%
Liquidity
Current ratio------
Quick ratio------
Cash ratio------
Leverage
Debt / Equity1.831.601.631.331.401.26
Debt / Assets0.590.560.570.520.530.51
Debt / EBITDA8.617.9831.027.669.978.64
Interest coverage1.8x1.8x-1.0x2.4x1.2x1.5x
Equity multiplier3.102.852.862.532.632.45
Liabilities / Assets0.660.630.640.590.600.58
Efficiency
Asset turnover0.160.180.160.170.160.15
Inventory turnover------
Days sales outstanding------
Days inventory outstanding------
Days payable outstanding------
Cash conversion cycle------
Valuation
P / E20.7x25.2x-17.0x41.1x30.0x
P / B2.1x2.3x1.9x1.7x1.9x1.8x
P / S4.1x4.6x4.2x4.0x4.7x4.8x
EV / EBITDA17.6x19.5x65.8x17.6x23.7x20.7x
Growth
Revenue growth (YoY)1.4%10.0%-7.3%11.2%9.0%-5.0%
Revenue CAGR (3y)1.1%4.3%4.0%4.8%4.7%-0.2%
Revenue CAGR (5y)4.6%3.3%3.5%3.8%3.0%-0.5%
Gross profit growth (YoY)----3.4%2.0%
Operating income growth (YoY)9.6%--91.5%-23.8%-48.8%
Net income growth (YoY)-3.8%--119.2%-16.2%-49.2%
EPS growth (YoY)8.9%--125.0%-21.8%-49.1%
EPS CAGR (3y)-4.3%21.8%--3.6%-0.5%15.1%
EPS CAGR (5y)9.0%-6.4%-21.8%--12.9%
FCF growth (YoY)------
FCF CAGR (5y)------
Book value growth (YoY)1.5%0.6%-11.8%3.6%-2.3%-1.1%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$404.85M total
Defense ITPortfolio$329.92M · 81.5%
All Other Segments$74.93M · 18.5%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

4/9
Neutral
  • ✓Net income positive
  • ✓Operating cash flow positive
  • ✗ROA improved YoY
  • ✓Cash flow > net income
  • ✗Long-term debt decreased
  • -Current ratio improved
  • ✓No share dilution
  • -Gross margin improved
  • ✗Asset turnover improved

Peer comparison

Same SIC group: Real Estate Investment Trusts

CompanyRevenue (last FY)Net marginROE
UMH$261.75M2.3%0.7%
ARE---9.2%
VTR$5.83B4.3%2.0%
SPG$6.36B72.7%88.8%
NYSE: KRC$1.11B0.0%0.0%

Comparing COPT DEFENSE PROPERTIES against the 5 most active filers in the same SIC group.

Dividends

$1.23/share trailing 12 months · +3.8% YoY

Ex-datePer share
Mar 31, 2026$0.3200
Dec 31, 2025$0.3050
Sep 30, 2025$0.3050
Jun 30, 2025$0.3050
Mar 31, 2025$0.3050
Dec 31, 2024$0.2950
Sep 30, 2024$0.2950
Jun 28, 2024$0.2950
Mar 27, 2024$0.2950
Dec 28, 2023$0.2850
Sep 28, 2023$0.2850
Jun 29, 2023$0.2850
Mar 30, 2023$0.2850
Dec 29, 2022$0.2750
Sep 29, 2022$0.2750
Jun 29, 2022$0.2750
Mar 30, 2022$0.2750
Dec 31, 2021$0.2750
Sep 29, 2021$0.2750
Jun 29, 2021$0.2750
Mar 30, 2021$0.2750
Dec 30, 2020$0.2750
Sep 29, 2020$0.2750
Jun 29, 2020$0.2750